Pakistan to get yet another loan worth 4.4 billion from international institution

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Pakistan to get yet another loan worth 4.4 billion from international institution

*ISLAMABAD - The Asian Development Bank is all set to give $3.4 billion in budgetary support to Pakistan, confirmed Finance Adviser Dr Abdul Hafeez Shaikh on Saturday.*

He said in a post on his Twitter account that the agreement was finalised between Pakistan and ADB after his meeting today with ADB DG Werner Liepach.

The first installment of the funds will be released in the first quarter of tis fiscal year, Dr Shaikh said. It will be an amount of $2.2 billion.

Dr Shaikh says this will “help the revenue and external account position”.

The support, he said, is in addition to the project portfolio with an estimated disbursement of upto $1 billion in the coming years. “I appreciate the commitment of the ADB to our economic reform agenda, Dr Shaikh tweeted.

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